Commitment Fee

Estimated price at which a partner in a partnership can buy out another partner. There are several methods for developing a buy-out estimate including market comparisons, appraisals, or ...

A method of purchasing real estate whereby a maximum amount of leverage is used. Normally the seller will finance the down payment necessary to acquire a mortgage. Thus, the purchaser is ...

Point at which a housing development becomes a neighborhood. After an initial housing development is sold and the new owners become established, the neighborhood stage begins. The ...

Sometimes, a perplexing legal term (a genuine headscratcher) emerges when buying or selling a property. You know you should know it, but its precise definition escapes you. Today's special ...

An opening with a hinged cover allowing access from one level to another in a structure. Often installed in a roof or the floor of a building to allow the entrance of people and materials ...

Structure or part thereof, such as a building, that obstructs or overlaps another property. Infringement on the property or rights of another individual or business. ...

In any field, from the corner store or long-term rentals, the potential gross income is the expected revenue earned from a sale or the rendering of services. The potential gross income ...

An agreement by which a mortgage is made subject to a junior mortgage. For example, a loan on a vacant lot is made subject to a subsequent construction loan. ...

A horizontal beam connecting together two rafters supporting the roof. The collar beam is located at the point substantially higher than the wall plate connecting the rafters. The high ...